Vibrant Village Sets Pace in Downtown
Apr 19, 2007
Fort Myers Florida Weekly
Jeff Cull
Residential/retail development underway in River District
Workmen are busy pouring concrete and errecting steel at one of the gems of the River District now redeveloping in downtown Fort Myers.
Construction is well underway at First Street Village, a three block development that will provide shopping, dining and housing in what was an old dilapidated shopping center.
A 39,00 square-foot Publix Supermarket, the first in downtown Fort myers in ages, leads the development on the former site of the old Edison-Ford Square. Along with the supermarket, cleveland developer Cameratta Properties and partner Regency Centers are adding 55,000 square feet of retail space and five townhomes priced at $400,000.
All will be done by the end of the year said Cheryl Yano, director of marketing for Cameratta Properties.
And some top retailers have already signed up for space in the pedestrian-friendly development. Starbucks and First Watch Restaurant are some shops that have committed along with a salon & spa and a drycleaner, Yano said.
The next phase, 98 condominium units over retail shops and indoor parking, is set to commence in December, with another 98-unit building set for six months after that.
"The key to a vibrant downtown is to give people a reason to stay downtown," said Joe Cameratta, chief executive officer of Cameratta Properties. "Our vision for first Street Village is to give the entire surrounding business and residential community the complete lifestyle experience."
Salesman Mark Jones said sales have been brisk in the seven-story building that features four levels of parking and private terraces.
"Since Feb. 2 we've reserved over 25 percent of phase one," Jones said.
"We're the envy of all the downtown developers."
Units in the Mediterranean-style building range in price from $289,000 to $600,000. Each has access to secure parking, a rooftop swimming pool, a clubroom and fitness center along with other amenities. The units along West First Street have a panoramic view of the river. On the opposite side, in future phases, some units will face historic McGregor Boulevard.
The final phase of the $250 million development will be a massive seven-story structure with nearly 200 units, along with bowling alleys, virtual golf, a suspended running track, a music-mixing studio and lounging area Jones said.
All told, Yano said, there will be 360 luxury condominiums, 100,000 square feet of restaurants and specialty shops ans 40,000 square feet of office space.
Yano said buyers like the proximity to downtown--it's an easy 10 minute stroll to Centennial Park and downtown restaurants and theatres.
"It's a great mix," she said. "Some are young, some are old; they're snowbirds and people who want to move back downtown."
Units can be reserved for as little as $5,000 down with 10 percent due in late summer and a total 20 percent due in December.
Jones said Cameratta is careful to appeal to users and not investors. They've limited reservations to two per person.
"We're looking for end users." he said. "We want the place to light up when we're open."
